Just reviewing the chart from late November through early...

Just reviewing the chart from late November through early December.

There are two gaps - 3.5c on the 7/12 and then again on 17/12 at 3.8c. With all the large insto activity prevalent on this stock, accounting for so much of the volume traded, I have to think that they will take care of the housekeeping before we move off again and close those gaps. With the SP settled nicely around the 4c mark I don't think that will happen on low volume either; we've got to move 10-12% so a 10-20M+ day possibly.

The other thought is that if we get the announcements we have been waiting on, then the SP will move North for a while at that time and these gaps will not fill just yet. In that case I expect they may come back into play later in the year?

I'm seeing the same pattern in the depth as we've seen so much before - any signs of SP going up is met with strong capping, and the sell side just gets loaded with a few million a couple of pips ahead, moving all the time as needed. Now this could be Mom and Pop trading the pips, but it's unlikely. Mom and Pop are "all-in" on Telstra and the banks at the moment...

The last few trading sessions the depth has started looking more like it did in late November with double the sellers for buyers, and almost 3x the sell volume for buys at times. Orchestrated pressure to sell.....you think!

Unless we get good news pronto I'm thinking we'll see those gaps fill in the next two weeks. Just need one big bad global finance news event as the catalyst and down we go.

Right, some weeds that need pulling in the garden....later.